ZSE rally takes a breather

ZSE rally takes a breather
Published: 19 September 2017
THE Zimbabwe Stock Exchange (ZSE's) bull run yesterday came to a halt after the mainstream Industrials Index shed 9,41 points or 2,35 percent to 390,62 levels on profit takings.

Turnover for the day was 40 percent weaker to $6,121 million compared to $10,322 million recorded in the previous session. Total market capitalisation at $11,031 billion was 2,32 percent lower that prior trading although 18 counters traded in the positive against eight lame ducks.

Volumes for the day came down 45 percent to 10 million shares. Volumes were anchored by blocks of Padenga and Simbisa shares that accounted for 20 percent and 18,98 percent respectively.

Delta – the biggest company by market capitalisation – retreated 8,69 percent to $2,70 while Dairibord was 3,32 percent weaker to 16 cents. Clothing retailer, Truworths traded 1,82 percent lower to settle at 1,08 cents while construction firm hospitality group – Meikles closed at 40 cents after shedding off 1,7 percent of value.

Industrial conglomerate – Innscor – shed 2 cents to close trade at $1,50. Other losses were recorded in Masimba and that settled at 5,9 cents after losing 0,1 cent. Further losses were however offset by gains in cement maker – Lafarge – that gained 20 percent to 60 cents followed by ZB Financial Holdings (ZBFH) which rose 19,23 percent to 31 cents.

- the herald
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